Hubbell Incorporated (NYSE:HUBB) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 133.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 366 shares of the industrial products company’s stock after purchasing an additional 209 shares during the quarter. GAMMA Investing LLC’s holdings in Hubbell were worth $153,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Acadian Asset Management LLC grew its position in shares of Hubbell by 51.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after buying an additional 1,252 shares during the last quarter. LGT Capital Partners LTD. acquired a new position in shares of Hubbell during the third quarter valued at $39,687,000. Principal Financial Group Inc. raised its position in shares of Hubbell by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after buying an additional 15,215 shares in the last quarter. Private Advisor Group LLC boosted its stake in Hubbell by 89.0% during the second quarter. Private Advisor Group LLC now owns 4,688 shares of the industrial products company’s stock valued at $1,713,000 after buying an additional 2,207 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its stake in Hubbell by 30.3% during the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after purchasing an additional 279,654 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.66% of the stock is owned by corporate insiders.

Hubbell Trading Up 0.2 %

Shares of HUBB stock opened at $434.76 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The firm has a fifty day moving average of $444.93 and a 200-day moving average of $414.36. Hubbell Incorporated has a 52-week low of $319.03 and a 52-week high of $481.35. The stock has a market cap of $23.33 billion, a price-to-earnings ratio of 31.32, a P/E/G ratio of 1.69 and a beta of 0.93.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.95 EPS. On average, equities research analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.21%. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays lifted their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Mizuho upped their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Wells Fargo & Company decreased their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $471.50.

Hubbell Company Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.